COVETRUS INC.

Revolutionary hemostatic gel for veterinary surgeons available in U.K. and across Europe through Veterinary Instrumentation and distribution partners NEW YORK, May 20, 2024 /PRNewswire/ -- Cresilon Inc. ("Cresilon"), a Brooklyn-based biotechnology company focused on hemostatic medical device technologies, today announced it has entered into a distribution agreement for its revolutionary hemostatic gel, VETIGEL®, to be sold directly to veterinary surgeons in the U.K. and throughout Europe through Veterinary Instrumentation (Vi), a leading supplier of professional products to support veterinarians in maintaining animal welfare during surgery. Based in the U.K., Vi is part of the Covetrus animal health family of worldwide businesses. Cresilon's VETIGEL, a plant-based hemostatic gel that instantly stops and controls bleeding, is available online for U.K. veterinary surgeons through Vi's extensive portfolio of surgical and orthopedic instrumentation, joint surgery, and fracture fixation products. In addition to the U.K., VETIGEL will be marketed and distributed to veterinary surgeons throughout Europe and many other countries through Vi's extensive global distribution network. Cresilon's Scientific Services Veterinarian and Fellow of the Royal College of Veterinary Surgeons (FRCVS), Dr. Neil Smith, will be providing online training on VETIGEL to all Vi distribution partners in June. "Our partnership with Veterinary Instrumentation will help us provide more veterinary surgeons with a revolutionary hemostatic gel that significantly improves the standard of care for pets and animals," said Matt Lewis, Vice President of Sales at Cresilon. "VETIGEL has been used by thousands of veterinarians thus far and helps veterinary clinics and animal hospitals save time, reduce operating costs, and improve patient outcomes." Since the product's debut in 2021, veterinary surgeons across North America, Europe, and Asia have increasingly used VETIGEL as the fastest and most effective hemostatic agent when treating animals for traumatic wounds and routine and complex surgical procedures, including dental extractions, liver biopsies, tumor and mass removals, cleft palate repairs, and amputations. To date, the plant-based hemostatic gel for veterinary surgeons has been used in more than 50,000 surgical procedures worldwide. VETIGEL offers veterinary surgeons a safe and efficient way to control animal bleeding across multiple types of bleeds and a wide range of surgical procedures. The veterinary hemostatic agent is made of two plant-based polysaccharides that form an instant mechanical barrier to stop bleeding on contact. Once the bleeding is controlled, VETIGEL can be easily removed without disturbing the underlying clot or left in the body to resorb. The plant-based hemostatic gel is supplied in a pre-filled syringe, is easy-to-use, and requires no preparation or special storage conditions. For more information about VETIGEL, visit www.vetigel.com. About CresilonCresilon® is a Brooklyn-based biotechnology company that develops, manufactures, and markets hemostatic medical devices utilizing the company's proprietary hydrogel technology. The company's plant-based technology has revolutionized the current standard by stopping bleeding in seconds. The company's current and future product lines target veterinary, human trauma, and human surgical applications. Cresilon's mission is to save lives. For more information about Cresilon, which was named to Fast Company's annual list of the World's Most Innovative Companies of 2024, ranking No. 1 in the medical devices category, visit www.cresilon.com.» Mehr auf prnewswire.com

Clayton, Dubilier & Rice (CD&R), a private investment firm, and TPG Capital will acquire animal-health technology and services company Covetrus Inc (NASDAQ: CVET) for $21.00 per share, representing an enterprise value of approximately $4 billion. CD&R and its affiliates.» Mehr auf benzinga.com

Animal health company Covetrus Inc. CVET, -0.20% said Wednesday it agreed to be taken private by Clayton, Dubilier & Rice (CD&R) and TPG Capital TPG, -0.90% in a deal valued at $4 billion. The two private equity firms agreed to pay $21 a share, which is $1.34 or 6.8% over its closing price of $19.66 a share on Tuesday and a 39% premium over its 30-day volume weighted average price per share as of the unaffected stock price as of May 13.» Mehr auf marketwatch.com